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Inflation tightens screw on UK consumers as election nears

Reuters  |  LONDON 

By Andy Bruce and David MillikenLONDON (Reuters) - British inflation hit its highest level since September 2013 last month, extending its sharp rise since the vote to leave the European Union and tightening the squeeze on living costs as a national election approaches.Consumer prices rose by an annual 2.7 percent, data showed, and they look set to rise further due to the fall in the value of the pound and the recent rise in global oil prices.Britain's economy was barely ruffled last year by the shock vote to leave the EU. But the steady rise in inflation since then, combined with weak wage ...

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First Published: Tue, May 16 2017. 18:30 IST